If you’ve made that big decision to buy a house, chances are you’re also already choosing from the many possible financing options available to you because, let’s face it, only a few people can afford to pay cash for big purchases like property acquisitions.

One alternative that private sector employees should consider when acquiring a house and lot is to take out a housing loan from the Home Development Mutual Fund (HDMF), more popularly known as Pag-ibig Fund.

Republic Act 7742 has made membership in the fund mandatory for private sector employees earning 4,000 pesos and above. If you’ve been contributing religiously to the fund for at least two years, you probably quality for that loan.

Pag-ibig Fund allows borrowing of up to 2 million pesos to fund any of the following: